Capitolis, a U.S.-based SaaS platform that drives financial resource optimization for capital markets, announced on Thursday it secured a strategic investment from Citi, J.P. Morgan and State Street. Founded in 2017, Capitolis claims its network software enables financial institutions to optimize their balance sheets, which creates a fairer, safer, and healthier marketplace.
“More than 50 financial institutions, as well as many hedge funds and asset managers, leverage Capitolis’ technology to bring the best services to market and achieve high levels of return, while using the most appropriate amounts of their financial resources.”
Capitolis revealed that the transaction represents a collaborative effort by the three leading global financial institutions to drive further adoption of the platform’s proprietary technology platform, which helps financial institutions free up capital and remove barriers that would otherwise restrict trading. Speaking about the investment, Gil Mandelzis, CEO and Founder of Capitolis, stated:
“While we have made great strides over the past three years since starting the company, it is only the beginning of our work in creating a new industry standard through collaboration, innovation and technology. There is much more transformation yet to come.”
The latest investment follows a $40 million Series B funding round in November 2019, led by Spark Capital and SVB Capital, with participation from existing investors Index Ventures, Sequoia Capital, and S Capital. Capitolis added it intends to use the funds from this latest investment to further accelerate its technology and product development, as well as expand sales and marketing initiatives in the months ahead.